Local News 8

Credit card APRs are at an all-time high—and so are credit card providers' profits. What's behind the record-high rates?

The Fed tends to take all the blame for high borrowing costs—but is the central bank really the only culprit? According to the Consumer Financial Protection Bureau (CFPB), the average credit card APR ...

Insurers charging rates similar to credit card providers to pay monthly – Which?

Some car and home insurers are still charging annual percentage rates (APRs) equivalent to credit card lenders for customers ...
AOL

Many consumers use ‘buy now, pay later’ like a credit card, Fed study shows—but providers insist it’s safer than that

Buy now, pay later (BNPL) functions more like short-term credit for the financially fragile, but closer to zero-interest loans for the well-off, according to a New York Fed report released Wednesday.
The Verge

Buy now, pay later services have to act more like credit card providers now

The Consumer Financial Protection Bureau decided BNPL outfits have to handle disputed purchases, provide refunds, and offer monthly billing statements. The Consumer Financial Protection Bureau decided ...
JD Supra

CFPB Interpretive Rule Holds That BNPL Lenders Are Credit Card Providers

On May 22, the CFPB announced an interpretive rule confirming that Buy Now, Pay Later (BNPL) lenders qualify as credit card providers under the Truth in Lending Act, Regulation Z and are required to ...
NerdWallet

5 Things to Know About the CareCredit Card

You may qualify for no-interest promotional financing, but the APR is high if you don’t pay on time. Many or all of the products on this page are from partners who compensate us when you click to or ...